Harrah's Entertainment, Inc.

Chimicles & Tikellis LLP represented stockholders of Harrah’s Entertainment, Inc. (HET) in an action that challenging the proposed acquisition of Harrah’s by a buyout group lead by its chairman and CEO, Gary Loveman. Gary Loveman's group announced a $81 per share merger proposal on October 2, 2006. Chimicles & Tikellis LLP filed a Complaint in the Delaware Court of Chancery on October 5, 2006 seeking the Harrah’s board of directors to fulfill its fiduciary duties and obligations to the Company's public shareholders in the face of the "going-private" takeover proposal. On December 19, 2006, Harrah’s announced that it had agreed with the Buyout Group to be acquired in a going private transaction for $90 per share.

In connection with the litigation in the District Court of Clark County, Nevada, on March 8, 2007, the parties entered into an agreement to settle the claims in both the Delaware and Nevada Litigation. The Pursuant to the Settlement Agreement the Special Committee of Harrah’s Board of Directors acknowledged that it was aware and considered the pending stockholder lawsuits claiming breaches of the Board’s fiduciary duties with respect to the potential sale of the Company, prior to obtaining the $9 per share increase in the consideration to be paid to Harrah’s stockholders. The settlement also secured the disclosure of material information that Plaintiffs sought in their complaints in a definitive proxy statement the Company filed with the SEC and mailed to Harrah’s stockholders.

At a hearing on April 21, 2008, the District Court of Clark County, Nevada approved the settlement in full and granted Plaintiffs’ application for attorneys’ fees and expenses. The Amended and Consolidated Class Action Complaint and Settlement Agreement are available online by clicking the links below.